Weekend Watering Hole

[BullBear52x]

Lets start a new one.

Daily bearish, the trend is down, a note to myself "don't catch a falling knife".

[BullBear52x]

What I am expect in the week to come? FIbo combo

[BullBear52x]

10 min. focus on RSI, too weak to say we will have any meaningful re-bounce.

[BullBear52x]

5 min. focus on MACD, so far still pointing down. this is important to note that we are now in down trend. new low is expected per MACD.

[BullBear52x]

BAD BAD lazy bears

[Woodcock]

Thanks BullBear - i appreciate the perspective that you add to this board.

[99er]

Great post, BullBear52x.

Some charts:

ES http://99ercharts.blogspot.com/2011/06/es_05.html
EURUSD http://99ercharts.blogspot.com/2011/06/eurusd_05.html
EURJPY http://99ercharts.blogspot.com/2011/06/eurjpy_05.html

Have a good one.

[MajorEasy]

helicopter ben has been dumping his bernanke billions,
the dollar is now worth 50 cents thus the double in the market
since March of 2009 means nothing.... IMO, the market is so distorted
it could go in either direction from here..
as always your guess is good as mine.
forks tell me little, DIA, SPY, QQQ, IWM, all
look similar.... will the forks provide support,
or will the market's price fall right through them?????

[kamukak]

Market always try to do the opposite, market sentiment is so bearish that I don't think its time to short here. By the way there are negative vibes till 13-15 june.

I am expecting monday to be an up day. euro and GBP both are quite strong!

[MajorEasy]

first, due your own due dilgence,
never trade on internet info..
that said,
i'm short 600 shares of RRD, and i'm prepared to increase that amount
by double or triple... i believe in this play that strongly...
however i might need to hold this short for a year,
no one knows when this turkey is going to fall to zero...
Is R.R. Donnelley's CEO Worth It?
http://www.fool.com/investing/general/2 ... th-it.aspx
http://www.dailyfinance.com/company/r-r ... t-interest
http://stockcharts.com/h-sc/ui?s=RRD&p= ... 1851872746

[cougar]

Hello guys!
Cobra: very nice posts and charts!
In particular, I like the hollow red bars! They are simple, elegant and they make sense! I did a back-test of situations that met your entry criteria and a quite spectacular trade, initiated by such a signal, showed up. It also recalled some memories of right or wrong decisions that were made during the months after…
At the beginning of Oct 2009, during a correction of the Bernank UP trend, three solid red bars were followed by a hollow red, which looks pretty much like our friend on Friday, since some people might call them both “hollow tombstones“. Now let us say that you go long SPY next morning, on Oct 5, when the price also jumps above the EMA(42, green line on chart). OK, then the price kept climbing within the Mov. Avg. Envelope 42 (yellow) until the Jan/Feb 2011correction and whipsaw. At that stage, many people went out of all their long positions, went short and stayed short too long. The perma-bears were SURE that the market could not resume a sustainable uptrend on a historically record low volume and in a weak economy! But those who figured out the game, went long at the reentry in the yellow envelope and stayed long until the rounded top of Apr 2010, when there were lots of “signs” and even the laziest bull should have sold the longs as the price dropped under the MAE(42).

BTW, I am not suggesting that we have a similar uptrend ahead of us! LOL!

Same chart, magnified:
http://images.investorshub.advfn.com/im ... bargif.GIF

[cougar]

The German stock Siemens (SI) is often moving ahead of the DAX and therefore it is worth watching.
On 5/26 it had a technical bounce which seems sustainable…. On Friday it had a healthy a green bar, but closed right under the MAW(78), which for SI is the ”line in the sand “. Closing on Monday above this line, would be significant for the European markets, IMO.

Same chart, magnified:
http://images.investorshub.advfn.com/im ... jSIgif.GIF